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EC proposes phasing in some capital rules: The European Commission will propose phasing in the Basel Committee on Banking Supervision's own funds requirements for market risk, instead of accepting the committee's 2019 start date, as part of the EU's efforts to ease regulatory standards' pressure on banks, Reuters writes.
* The ECB is all but certain to extend its 80 billion-a-month bond-buying program beyond March 2017 and ease constraints on the purchases, insiders tell Reuters. Governing Council member Ardo Hansson, said the ECB's policymakers will not make a decision on the future of its bond-buying scheme until December, The Wall Street Journal notes.
UK AND IRELAND
Barclays Q3 profit down YOY: Barclays Plc this morning reported third-quarter profit attributable to ordinary equity holders of the parent of 414 million, compared to 417 million in the same period a year earlier. For the nine months ended Sept. 30, the group reported a year-over-year decline in attributable profit, to 1.52 billion from 2.03 billion. Barclays said it continues to explore opportunities to reduce its shareholding in Barclays Africa Group Ltd. to a level that would permit regulatory deconsolidation.
* Royal Bank of Scotland Group Plc held fresh talks with a group of institutional investors, including Aviva Plc and Legal & General Group Plc, to settle one of several outstanding claims against the lender over its controversial 12 billion rights issue in 2008, insiders tell Sky News. RBS, which booked a 700 million provision in its half-year results to cover potential settlement costs, is expected to book hundreds of millions of pounds in additional provisions when it reports third-quarter results tomorrow.
* The U.K. government further reduced its stake in Lloyds Banking Group Plc to less than 9%. The state now owns 6,422,964,302 shares, or just under 9.0% of Lloyds' voting rights.
* The Bank of England's Prudential Regulation Authority asked Britain's biggest banks to detail their exposures to Deutsche Bank AG, Banca Monte dei Paschi di Siena SpA and some other Italian lenders amid rising concerns over the health of the European financial industry, the Financial Times reports.
* U.K. PRA CEO Sam Woods said there will be no respite in U.K. banking regulations and that implementation of ring-fencing rules should continue despite Brexit-related uncertainties, Reuters writes.